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Libya trade picks up following war

Date: 13/07/2012

Exports to Libya increased fourfold in the first five months of 2012, signalling a gradual return to normality after trade was disrupted by conflict last year.

Trade statistics released yesterday showed that between January and May some €41 million in goods were exported to Libya.

In the same period last year, exports stood at €10 million.

Imports also increased threefold in the first five months, according to the National Statistics Office.

Malta imported some €33 million worth of goods from Libya, up from the €10 million last year. Libya was one of the few countries to which Malta exported more than it imported from. The positive trade gap with Libya stood at €8.5 million until May.

On a wider scale, higher imports in the first five months were offset by higher exports, which narrowed the trade gap by €187 million. The trade gap stood at €645 million.

Malta imported €2.3 billion worth of goods between January and May and exported €1.6 billion.

The EU remained the island’s largest trade partner.

Source: Times of Malta

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